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Change - Announcement Of Cessation Of Head Of Finance And Administration

BackApr 22, 2022
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Apr 22, 2022 17:33
Status New
Announcement Reference SG220422OTHR7NYC
Submitted By (Co./ Ind. Name) Manfred Fan Chee Seng
Designation Executive Chairman
Description (Please provide a detailed description of the event in the box below) This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor").

It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Shervyn Essex, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318,
Additional Details
Name Of Person Taku Edatsune
Age 34
Is effective date of cessation known? Yes
If yes, please provide the date 22/07/2022
Detailed Reason (s) for cessation Mr Taku Edatsune ("Mr Edatsune") has tendered his resignation to pursue other career opportunities.

After having interviewed Mr Edatsune and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr Edatsune as the Head of Finance and Administration.

In addition, there is no concern with regards to financial reporting that led to the cessation of Mr Edatsune, and there is no disagreement between Mr Edatsune and the Company's Board of Directors with regards to practices that will have an impact on the Company's financial reporting.

Following the resignation of Mr Edatsune, the Company is in the process of searching and identifying a suitable candidate for the position as Head of Finance and Administration, and will make the necessary announcement when the candidate is appointed.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? No
Any other relevant information to be provided to shareholders of the listed issuer? Yes
If Yes, Please provide full details The Company's Board of Directors accepted Mr Edatsune's resignation on 22 April 2022, and Mr Edatsune will serve a notice period of 3 months till 21 July 2022 to enable a smooth transition.
Date of Appointment to current position 12/03/2020
Does the AC have a minimum of 3 members (taking into account this cessation)? Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Head of Finance and Administration
Role and responsibilities Mr Edatsune is responsible for the Group's accounting and finance functions, including tax, treasury and compliance matters, and other general affairs of the Group.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries None
Shareholding interest in the listed issuer and its subsidiaries? Yes
Shareholding Details 186,415 ordinary shares
Past (for the last 5 years) None
Present None